Finance minister: EU acknowledges Hungary recovery

The European Union acknowledges that Hungary is on the path to economic recovery from the coronavirus crisis, Finance Minister Mihaly Varga said on Friday, noting that the European Commission has raised its projection for Hungary's GDP growth this year to 5 percent from 4 percent. Speaking to Hungarian reporters after a meeting with his EU peers in Luxembourg, Varga said the EU's forecast put Hungary at the sharp end of the European field, noting that it trails only three member states in terms of projected growth. This year's and next year's budgets both guarantee the resources needed for an economic recovery, Varga said. The 2022 budget guarantees the funding needed to support families, raise pensions and wages and finance investments and social programmes, he added.